Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, PIMCO Dynamic Income Fund ( PDI )'s , William H. Gross, made a $2.47M buy of PDI, purchasing 75,577 shares at a cost of $32.68 a piece. PIMCO Dynamic Income Fund is trading up about 0.1% on the day Wednesday. Before this latest buy, Gross purchased PDI on 30 other occasions during the past year, for a total investment of $37.2M at an average of $31.81 per share.
And at Fresh Market ( TFM ), there was insider buying on Friday, by SVP Real Estate & Development Randall A. Young who purchased 1,500 shares at a cost of $31.50 each, for a total investment of $47,250. Before this latest buy, Young made one other purchase in the past twelve months, buying $5,830 shares for a cost of $29.15 a piece. Fresh Market is trading up about 0.3% on the day Wednesday. Young was up about 3.0% on the buy at the high point of today's trading session, with TFM trading as high as $32.43 at last check today.